The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

HSBC needs balance and guile in Hong Kong and China

HSBC is stuck between several rocks and several more hard places.


It’s irresistible to join dots. It’s natural, and just a bit exhilarating, to see patterns, messages, truths.

Observers of HSBC are seeing a lot of dots and are pondering how many of them to connect. Among them: the ousting of John Flint as chief executive; the departure of Helen Wong as head of Greater China; HSBC’s supposed cooperation with the US Department of Justice in its investigation of Huawei; China’s retaliation on the US’s treatment of Huawei, and the forthcoming list of unreliable entities it intends to publish; protests all over Hong Kong; and Chinese pressure on iconic Hong Kong bodies, exemplified by the departure of Cathay Pacific CEO Rupert Hogg, who resigned after being ordered to name staff who took part in demonstrations.


John Flint 

So, how many of them ought we to connect? Not the first two, apparently; Flint was ditched by his own board for reasons they have made clear, whereas Wong has resigned to take up another opportunity in financial services, one she apparently hasn’t even told colleagues about. 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree